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Are your kids too young for whole life?

Are your kids too young for whole life?

March 24, 2023

How children can benefit from a whole life policy.

It may seem counter intuitive – how can it be beneficial for someone so young to have whole life insurance? There are three very good reasons to consider:

  • It guarantees insurability, even if a health condition arises later in life.
  • It locks in coverage at an affordable rate vs. higher premiums as an adult.
  • Every premium helps build cash value; Starting early will allow more time for cash value to accumulate.

My clients are usually surprised by how efficient whole life can be for their kids. Can I call you over the next few days with some potential strategies?

All whole life insurance policy guarantees are subject to the timely payment of all required premiums and the claims paying ability of the issuing insurance company. Policy loans and withdrawals affect the guarantees by reducing the policy’s death benefit and cash values.
Some whole life polices do not have cash values in the first two years of the policy and don’t pay a dividend until the policy’s third year. Talk to your financial representative and refer to your individual whole life policy illustration for more information.

Pub11867  2022-147588 Exp. 12/24